The Brothers in their Counting House

[Hafiz]

Maybe this is a bit of a stretch but the brothers may have done their economic homework – remember that they are fervent free market capitalists. They also seem to realize that they don’t have all the answers. This could be good news for everyone - particularly for Egyptians.

In recent weeks they have been talking in Cairo to one of the world’s most important development economists (who is also an expert of Egypt). De Soto is very big on institution building and the need to regularize and give legal protections to the informal economy. An interview with him is on the web – Foreign Policy January 12, 2012 and deals specifically with Egypt, also Financial Times Magazine April 28, 2012. The guts of his programs are to quickly create wealth for the poor and working class.

He has advised third world governments and was mentioned this evening in the Reith Lectures. So he is no mad mullah or voodoo economist

His ideas may give the brothers some counter argument to the austerities to be demanded by the IMF and give the economy a major early lift. We’ll see.

His Wikipedia page gives a good summary of his theories and experience.

Oh he worked for the Mubaraks in 2004 - but they rejected his advice, so he can't be all bad.

[TonyC]

That sounds rather interesting, but could I make a small plea to Hafiz? You obviously read in areas most of us don't go to, so can you provide links to the sites mentioned – it makes life a lot easier than searching for the publications and going through them to find the articles. Thanks!

[Hafiz]

Sorry.

In the past my direct links were knocked back. Thought the rules were that, at my level, I could not include direct links. Next time will include links and see if the post goes through.

[DJKeefy]

Its for new members with less than 10 posts, this is to try and stop spam.

[Hafiz]

For TonyC

I hope this pasting will work – the links in order are:

http://www.foreignpolicy.com/articles/2 ... ll_me_poor

http://www.ft.com/cms/s/2/0a12c67e-8f3b ... z1yrHj5xnk

http://en.wikipedia.org/wiki/Hernando_de_Soto

A moving article by De Soto on the origins of the Arab Spring is at:

http://www.foreignpolicy.com/articles/2 ... d_bouazizi

[TonyC]

Many thanks ... I'll settle down to them later!

[A-Four]

Many thanks ... I'll settle down to them later!

Come on then TonyC, make your comment,............because for the hell of me, l can not make real heads or tails of what this mans idea really is for the 'new' Egypt,........and from the looks of it neither can any one else on this site.

Do l understand it that every one in Egypt who have asset, whether it be home are factory, should re-mortgage themselves up to the hilt, so that they can buy more 'assets'.?

[TonyC]

Many thanks ... I'll settle down to them later!

Come on then TonyC, make your comment,............

Don't rush me ... I need to digest slowly!